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December 22, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Grand Rapids, Business Loans > Fifth Third Bank Grand Rapids Business Loans > Dominos Pizza Loan | ||||
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Fifth Third Bank Commercial Loans for Franchisees
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Borrow Money to Buy a Domino's Pizza FranchiseNeed money to invest in a Domino's Pizza franchise? Fifth Third Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Okemos, Michigan needed money to invest in a Domino's Pizza franchise back in 2004. Fifth Third Bank issued an SBA franchise loan. Here are the details on this Michigan small business loan. SBA Loan Borrower DOMINOS PIZZA SBA Loan Lender FIFTH THIRD BANK This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 7/23/2004 Loan Approval Gross Amount $124,000 Loan Approval from the SBA Of the total $124,000 loan amount, the SBA guaranteed $105,400. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Domino's Pizza franchise. At the time of the loan, the company had 22 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. About This SBA Loan Information: All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ. Related Links: Dealing With Venture Capitalists Banks in Grand Rapids, Michigan
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